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In today's video we're going to talk about short squeezes and the top 5 stocks with the highest open interest that are not only susceptible to being squeezed, but also could end up being the next GameStop moonshot.
Short squeezes tend to occur when a stock goes down… down some more… and down some more before bottoming out.
When a short squeeze happens, short sellers are forced to exit their positions by buying the shares back. Momentum buyers also enter the fray, and this can cause the squeeze — sending a stock parabolic, or straight up. So let's take a look at the five stocks that have the potential to be the next GameStop…
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Here Are Some Names | | These 4 Stocks Are Ready To Trade Higher
| | Global stock markets were flat today as investors await details on President Joe Biden's $2 trillion infrastructure and economic recovery package.
The Invesco QQQ Trust Series 1 (Nasdaq: QQQ) is still trading way below its 50-day moving average, which means large-cap tech stocks are choppy, though, up about 0.6% just before the opening bell. And it's having somewhat of an impact on the SPDR S&P 500 ETF Trust (NYSEArca: SPY), too.
The SPY would be trading much higher. However, it's already trading above its 50-day moving average, so that tells us the congestion or downside pressure is isolated.
That's great news for us. Here's why...
In today's video, I have more on when large-cap tech could begin trending… whether bonds will break down further… why small-cap stocks are weakening… which major index is leading higher… and the top four stocks ready to trade higher.
The first stock can be found in the basic Materials sector. I told you a few months back that this stock is going to rally, and it's now up 84% the past 12 months!
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| 2 Earnings Reports to Watch This Week
| March 29, 2021
| We have earnings to watch this week in both the retail and semiconductor spaces. I'm talking about Micron and Lululemon...
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| | 5 of the Most Shorted Stocks To Watch
| March 30, 2021 | I used the latest 13F form to find the most shorted stocks. And it looks like GameStop and KemPharm aren't the only ones to look out for.
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